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News Release
Energy transition to trigger steep decline in eastern Australia’s gas demand
- 08 March 2022
Eastern Australia’s gas and power markets are at the forefront of Asia Pacific’s energy transition. Markets are undergoing a radical transformation, one which could see gas demand decline by 60% in 2050, depending on the pace of the energy transition, Wood Mackenzie, a Verisk business (Nasdaq:VRSK), said today.
News Release
Time to act as momentum builds for CCUS and hydrogen
- 31 January 2022
This year companies and governments will need to make good on the pledges they made on energy transition technologies, including carbon capture, utilisation and storage (CCUS) and low-carbon hydrogen, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK). In a new report, CCUS and hydrogen: 5 things to look for in 2022, the global energy consultancy points out the huge momentum behind both CCUS and low-carbon hydrogen in 2021, with announcements of new projects, policies and investment as COP26 spurred companies’ net zero targets.
News Release
Oil and gas companies must be bold as energy transition sets tone for 2022
- 09 December 2021
It’s set to be an action-packed year for Majors, Independents and national oil companies alike. Big choices will set strategic trajectories for the energy transition ahead. New research from Wood Mackenzie, a Verisk business (Nasdaq:VRSK), indicates that oil and gas companies are likely to be bold in 2022. Formidable cash flow generation, increasing new energy opportunities and the development of a carbon market are a powerful force for change.
News Release
US storage market continues to grow in Q2 2021
- 09 September 2021
According to Wood Mackenzie, a Verisk business (Nasdaq: VSK), and the U.S. Energy Storage Association’s (ESA) latest U.S. Energy Storage Monitor report, 345 megawatts (MW) of new energy storage systems were brought online in the second quarter of 2021.
News Release
Corporate renewable PPAs playing bigger role in decarbonising Asia Pacific
- 18 August 2021
Corporate renewable power purchase agreements (PPA) are starting to play a bigger role in Asia Pacific’s decarbonisation efforts, says Wood Mackenzie.
News Release
Carbon pricing plans ‘could transform upstream oil and gas economics’
- 31 March 2021
At present, few countries require producers to either pay a carbon tax or participate in an emissions trading scheme (ETS). But as governments seek to meet decarbonisation targets, that could soon change. Carbon charges are likely to come, and they will transform the upstream sector, affecting both asset values and the industry’s economics.
News Release
Global offshore wind O&M market to grow 16% annually to US$12 billion by 2029
- 09 March 2021
Wood Mackenzie’s latest report shows that the global offshore wind operations and maintenance (O&M) market is expected to grow 16% annually to reach US$12 billion (€10 billion) by 2029.
News Release
Climate commitments to top energy and mining agendas in 2021
- 27 January 2021
What are the biggest emissions trends to watch this year? James Whiteside, Wood Mackenzie Global Head of Multi-Commodity Research, and Amy Bowe, Wood Mackenzie Head of Carbon Research, see five key themes
News Release
Bangladesh to double its fossil fuel imports in a decade
- 14 May 2020
Bangladesh is expected to double its fossil fuel imports to 32 million tonnes of oil equivalent (Mtoe) between 2020 and 2030, says Wood Mackenzie.
News Release
Asia olefins face historical production losses due to regional lockdowns
- 29 April 2020
A new report from Wood Mackenzie shows that olefins production losses in Asia have reached historical highs as a result of regional lockdowns in the wake of the coronavirus outbreak.
News Release
Increased uncertainty to colour upstream sector’s decision-making in 2020
- 09 January 2020
The level of uncertainty and anxiety among upstream producers and supply chain has rarely been higher. In 2020, decision-making will be more heavily influenced by sentiment surrounding the energy transition, political upheaval and trade disputes than in previous years. This adds to the ever-present risks of unexpected supply-demand imbalance, niche cost inflation or a global economic downturn. What are the biggest trends to watch in the upstream oil and gas business in 2020? Fraser McKay, head of upstream analysis at Wood Mackenzie, sees five key themes.
News Release
Can Europe cope if Russia shuts off Ukraine gas transit?
- 19 December 2019
The gas transit and supply contracts between Russia and Ukraine expire at 10 am on 1 January 2020 (Moscow time) – the future of Ukraine transit remains the largest uncertainty for global gas markets in 2020. Murray Douglas, director, European gas at global natural resources consultancy Wood Mackenzie, said: “Ukraine remains the major transit route for Russian gas into Europe – over 76 billion cubic metres (cm) will be transported via Ukraine this year."
News Release
China’s wind repowering market to boom from 2023
- 17 December 2019
According to a new report by Wood Mackenzie, China’s wind repowering market is expected to take off from 2023. More than 21 gigawatts (GW) (cumulative capacity) of China’s wind turbine fleet is expected to be repowered over the next 10 years (2019-2028).
News Release
Project delays and cancellations to dampen US microgrid growth through 2021
- 16 December 2019
Project cancellations and delays connecting planned projects to the electric grid will lead the US microgrid market to contract 17% from its 2018 peak by the end of this year, according to new research from Wood Mackenzie.
News Release
Anchor's aweigh as Chevron gives nod to US Gulf of Mexico development
- 12 December 2019
Chevron has given the green light to the Anchor development in deepwater US Gulf of Mexico. This is Chevron’s first greenfield final investment decision as an operator since its sanction of Big Foot and Jack/St Malo in 2010.
News Release
Was 2019 the year of recycled PET?
- 10 December 2019
2019 has been a year of successes within the recycled PET (RPET) industry.
News Release
Australia’s east coast gas prices to bottom out over next two years
- 20 November 2019
In the latest Australia east coast gas market research, Wood Mackenzie projects that the LNG netback price for Australia’s east coast could bottom out to A$6.50 – A$9 per gigajoule (GJ) over the next two years.
News Release
Renewables growth may close green hydrogen cost gap by 2030
- 22 October 2019
Green hydrogen production can compete with fossil fuel-based hydrogen by 2030 in Australia, Germany and Japan, should renewable power prices reach US$30 per megawatt hour (MWh), new research from global natural resources consultancy Wood Mackenzie indicates.
News Release
US wind to peak in 2020 with 14.6 GW as Production Tax Credit expires
- 12 September 2019
Highlights from Wood Mackenzie's 2019 North America wind power outlook
News Release
No-Deal Brexit won’t sound death knell for UK refiners
- 23 August 2019
Despite speculation that a No-Deal Brexit would have a severe impact on the UK refining industry, Wood Mackenzie’s analysis indicates that while the sector’s dynamics would shift and margins will narrow, it would not be crippled.
News Release
Resilience to drive US microgrid growth
- 08 August 2019
The US microgrid industry may find opportunities for substantial future growth in geographical areas that are repeatedly affected by power outages, as customers seek out resilient solutions, new research from Wood Mackenzie found.
News Release
Europe’s flexible packaging market will be worth over €16 billion by 2023
- 23 July 2019
Europe's flexible packaging market is predicted to achieve a compound annual growth rate (CAGR) of 2% over the next five years to reach over €16 billion in 2023.
News Release
Decarbonising US power grid 'may cost US$4.5 trillion'
- 27 June 2019
The transition to a 100% renewable US power grid will need investment of up to US$4.5 trillion over the next 10 to 20 years, new analysis from Wood Mackenzie found.
News Release
Beetaloo could bring long-term gas supply to Australia's east coast market
- 29 May 2019
According to research by Wood Mackenzie, Australia's Beetaloo basin is the only new gas resource with sufficient scale to supply the east coast market in the long term.
News Release
LNG primed for US$200bn capex boom
- 25 April 2019
The liquefied natural gas (LNG) boom is back. Over the next two years, almost 90 million tonnes per annum (mmtpa) of LNG is expected to take final investment decision (FID) and start construction. New research from Wood Mackenzie show that capital expenditure - for both LNG plant and upstream infrastructure - will total more than US$200 billion between 2019 and 2025. This will provide a major boost to engineering, procurement and construction (EPC) contractors and other providers along the supply chain.
News Release
AFPM 2019: Over $200 billion to be invested in U.S. petrochemicals industry
- 26 March 2019
The U.S. petrochemicals industry is experiencing an investment renaissance, Steve Zinger, Wood Mackenzie Chemicals Senior Vice President, said during his appearance at AFPM's 2019 International Petrochemical Conference.
News Release
Exploration’s back in the black
- 04 February 2019
After a difficult few years, the exploration sector is back in the black – and keen to stay there. New analysis from Wood Mackenzie shows that explorers’ success in 2018 reflects a disciplined approach that’s set to continue this year.
News Release
Poland tops growth league in Europe’s €14.1 billion flexible packaging market
- 18 July 2018
According to PCI Wood Mackenzie's latest review of the European marketplace, 'Flexible Packaging European Supply Demand Report', Poland continued to be the fastest growing major flexible packaging market in Europe in 2017, increasing by over 5% during the year.
News Release
Rise in new players in Southeast Asia's upstream sector
- 28 June 2018
Since the fall in oil prices in 2014, oil majors and international oil companies (IOCs) have accelerated a shift towards resource themes and regions offering higher returns, lower complexity and shorter timeframes, away from the more challenging regions such as Southeast Asia. To date, close to 800 million barrels of oil equivalent (boe) of the region's resources have left the hands of majors and IOCs.
News Release
BP's double proves there's life in the old dog yet
- 31 January 2018
BP announced it made two discoveries on the UK Continental Shelf in 2017 - Capercaillie, in the North Sea, and Achmelvich, in the West of Shetland. Wood Mackenzie believes the finds prove there's still life in the ultra-mature province.

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